Rio de Janeiro has been announced as the host of the 2016 Olympics, beating Madrid in the last round of voting after Tokyo and Chicago were eliminated Friday. The decision had been billed as one of the closest races in Olympics history.

Chicago was eliminated first, in what ESPN.com calls a “shocking defeat,” as it was expected to be a strong contender. President Obama, First Lady Michelle Obama had made the trip to Copenhagen to show their support for the bid.

However, Rio’s bid was based on the fact that the Olympics have never been held in South America, and Brazil will in fact be only the second country in the Southern Hemisphere to host the Olympics, with Australia.

The next Winter Olympics will be held next year in Vancouver, followed by London’s 2012 Summer Games and Sochi, Russia, for the 2014 Winter Olympics. Rio will also host the 2014 World Cup finals.